Indiana Blue Sky Properties, LLC

"If someone offers you an amazing opportunity and you're not sure you can do it, say yes - then learn how to do it later."... More ~ Sir Richard Branson Less

Member Since: 10.21.2016

Experience: 30 YRS.

BIO

My name is Paul Clark. My wife and I are Real Estate Investors in Indianapolis and the surrounding area. We wholesale, fix & flip and buy & hold properties. We specialize in Rent to Own or Lease Options. We have extensive knowledge in renovations and determining true value of property.
We are looking for properties in any areas as long as the property meets our criteria.
We have a large network of Buyers and Sellers. I am licensed as a Broker in the state of Indiana. We own rentals, consult and train others and love our lives.
Our values when dealing with others are honesty, integrity and trust. Our values when dealing in life are excellence, confidence and love. We taught our children those values and they in turn pass those values along to our Grand Children.
Our criteria are simple: Find a home that is distressed, calculate the costs to renovate and prepare a summary for others Investors to buy wholesale, fix & flip and hold as a rental. In some cases, we renovate and add to our portfolio or sell the property to a home owner.

We just put a new property under contract. Let's look at how this property came about for which I give 100% credit to my wife. Everyday, we spend about an hour searching online for property to see if new properties become available that may be deals. We use a number of websites to aid in the search.... More As a new Investor, what should you look for in a deal?
We look at areas of interest first. We look for properties priced well below other properties in the area. These may be off market, on market, wholesale or properties we have come across where an owner contacted us. We also look at the prices of similar properties that have been rehabbed and recently sold. In many cases, we are able to identify and purchase properties for 30% to 40% of ARV. We can then physically go to the property and look at condition, make estimates of repairs and finally a decision. This sounds simple. It is. It does take time and effort to find the right property. We look at 100 properties online that might fit our criteria, select about 5 that seem to fit and make offers to get one. Is ONE property out of 100 good? It has been good for us averaging about $25,000 profit per property. Good Luck and Happy Investing! Less

I wanted to take a moment to welcome everyone that has joined our group. There are lots of properties available in Marion and the surrounding counties that are ripe for wholesaling, fix and flip or long term buy and hold as rentals. The biggest challenge to most investors is getting started. Getting... More started means as an investor, we need to make the decision to do today what moves you toward your goals. I have a printed statement on my desk that I refer to every time I set down. "What is the one thing I can do today such that by doing it, everything else will be easier or unnecessary in achieving my goal." This simple statement moves me to take action daily toward my goal(s) while eliminating the unnecessary obstacles or mundane tasks that prevent me from becoming the best I can be. Make the decision! Less

Total noob question here, but what’s worst case scenario if we borrow money (sounds like 12% interest is pretty standard) and the House never sells or something really bad happens and we can’t pay the money back? Do guys in bats show up or they just take ownership of the property or what? And is... More the only amount owed ($12,000 for every 100K financed) or are other fees added? Less

Every day, I get offers from wholesalers from all over the place. Unfortunately, alot of properties are over priced and not really a deal. You need to understand the market, the values in the areas you are working and offer those properties at a fair price to develop a long term relationship with your... More Buyers. Less

Offered a property for $33K recently with no takers. I had done the research. I knew the property was worth $65K - $70K once the rehab was completed. So I talked to wife and said, let's do this one and show others how this real estate business can work. We started the rehab ug 10 and had our first... More look Open House Sept. 3. We wrote and accepted offer 9/6/17 for $68,900. Rehab cost us $14,500. $20K profit for 3 weeks work. No bad. You can do it too. But you got to get started. Less

Interesting to me to discuss property values with different people. I get lists from others with prices of property they are wholesaling or offering for sale. Don't get me wrong. I am grateful and willing to buy homes from others. Otherwise I would not buy homes in many cases if it were not for others... More finding or us doing a JV deal. Sometimes I have someone that wants to JV on a property and they find one they think is of a certain value. Intentions are good, people are trying but the property price is really out of wack. Let me give you an example. I recently had a wholesaler come to me with a great deal. 4 Bed, 3 Ba, 2 Car on nice mature lot for $60K. I had to look...but not physically. First things first. I had my internet research done. We always check 3-4 specific sites for information. Each gives us a value, an idea of what the property is worth. One of our sources showed the value at nearly $65K, one at $62K, one at $57K and one at $53K. Knowing the community, I quickly knew this property was not a good deal because surrounding values average about $90K - $100K...and the property need work. $20K in work. If interested, maybe we can discuss your experiences and get further into the weeds on deals like this. Less